FAQQ&A Regarding Individual Income Tax (2)
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Q： |
The taxpayer, whose company is in Baoding, was assigned to work in the branch office in Beijing. The taxpayer and his/her spouse have no housing in Beijing. If they rent a house in Beijing for work reasons, can the taxpayer enjoy the housing rent deduction? If so, should the deduction be based on which city standard? |
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Yes, deducted according to Beijing standard.
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Q： |
How to determine the original value of individual equity transfer? |
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A： |
Article 15 of the Announcement of the State Administration of Taxation on the Issuance of the Measures for the Administration of Personal Income Tax on the Income from Equity Transfer (for Trial Implementation) (Announcement No. 67 of the State Administration of Taxation in 2014) stipulates: "The original value of the equity transferred by a person shall be confirmed according to the following methods:
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Q： |
Whether the special additional deduction of personal income tax can be carried forward for deduction? |
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A： |
It cannot be carried forward to subsequent years for deduction |
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Q： |
How to handle special additional deduction when employed by two employers? |
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Article 4 of the Announcement of the State Administration of Taxation on the Revision and Issuance of the Measures for the Operation of Special Additional Deductions of Personal Income Tax (for Trial Implementation) (Announcement [2022] No. 7 of the State Administration of Taxation) stipulates that if a taxpayer simultaneously obtains income from wages and salaries from more than two places and the withholding agent handles the above special additional deductions, the taxpayer can only choose to deduct the same special additional deductions within a tax year from one place. |
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Q： |
Whether the temporary work subsidies and bonuses obtained by medical staff and epidemic prevention workers participating in the prevention and control of the novel coronavirus epidemic can be exempted from personal income tax? |
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According to Article 1 of the Announcement of the Ministry of Finance and the State Administration of Taxation on Supporting the Personal Income Tax Policies for the Prevention and Control of the Pneumonia Infected with novel coronavirus (Announcement No. 10, 2020 of the Ministry of Finance and the State Administration of Taxation), the temporary work subsidies and bonuses obtained by medical staff and epidemic prevention workers who participate in epidemic prevention and control work according to the standards prescribed by the government are exempt from personal income tax. The standards stipulated by the government include the subsidy and bonus standards stipulated by governments at all levels. The temporary work subsidies and bonuses for individuals involved in epidemic prevention and control stipulated by the people's governments at or above the provincial level shall be implemented by reference. The implementation period of this policy will be extended to December 31, 2023. |
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